Any current/future new fundraising through debt or equity?

In Q2 FY25, Nazara Technologies raised INR 900 crores via a preferential equity issue from marquee investors to support organic and inorganic growth. The company plans to merge Paper Boat (owner of Kiddopia) with Nazara to enable fungible cash flow for growth deployment. There is no specific mention of any new or planned fundraising through debt or additional equity beyond the Q2 preferential issue within the current disclosures. Management emphasized deploying existing raised funds strategically across business segments and M&A opportunities. No explicit announcements regarding future fundrai

Any current/future capex/capital investment/strategic investment?

Nazara raised INR 900 crores via preferential equity issue in Q2 FY25 to support organic and inorganic growth initiatives, including strategic investments. Largest investment made to date in PokerBaazi's parent company, Moonshine Technologies, strengthening their position in skill-based gaming. Planning to invest in acquiring and closing kids' IPs for Kiddopia to boost organic user acquisition. Merger of Paper Boat (Kiddopia's parent) with Nazara Technologies approved, aimed at creating fungible cash flows for deployment in growth opportunities. Setting up centers of excellence in AI, data ana

Future growth expectations in sales/revenue/volumes?

Nazara is bullish on growth across its core gaming studio, NODWIN Esports, Adtech, and RMG segments (PokerBaazi). Core gaming studio business has strong scaling potential, driven by AI initiatives and studio optimization. NODWIN revenues are scaling; focus on improving EBITDA margins expected in 3-4 years. Adtech business growth and synergy benefits expected post Space & Time acquisition, with significant EBITDA gains in FY26. RMG segment, particularly PokerBaazi, is growing at 30-40% YoY, expected to become a large cash-generating business with expanding margins. Kiddopia aims to grow through

Future growth expectations in earnings/operating earnings/profits/EPS?

The management is very bullish on all key segments (core gaming, NODWIN Esports, RMG, and Adtech) with expectations of scalable revenue and improved EBITDA margins over the next 3-4 years. Core gaming studio business is expected to be a high-margin, high cash flow segment with optimization via AI and studio acquisitions. NODWIN's revenues are scaling, and focus is on increasing EBITDA margins in the next 3-4 years. RMG business, led by PokerBaazi, is projected to be a large cash-generating, growing platform with ~30-40% YoY topline growth, margins expected to improve post initial marketi

Nazara Technolo.Q2 FY25Entertainment

Nazara Technolo. Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹385Market Cap: ₹14.4K CrSector: Entertainment

Management growth scorecard

Revenue

Category 2

Margin

Category 1

Fundraise

Yes

Order

N/A

Capex

Yes

3 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Nazara is bullish on growth across its core gaming studio, NODWIN Esports, Adtech, and RMG segments (PokerBaazi).
Core gaming studio business has strong scaling potential, driven by AI initiatives and studio optimization.
NODWIN revenues are scaling; focus on improving EBITDA margins expected in 3-4 years.
Adtech business growth and synergy benefits expected post Space & Time acquisition, with significant EBITDA gains in FY26.
RMG segment, particularly PokerBaazi, is growing at 30-40% YoY, expected to become a large cash-generating business with expanding margins.
Kiddopia aims to grow through IP partnerships to reduce user acquisition costs and increase conversions.
Fusebox plans big IP game launches (e.g., Big Brother in Q1 FY26) with medium-term revenue growth.
Overall, Nazara expects stronger H2 performance and higher EBITDA margins over the next 3-4 years, with diversified segment growth and consolidation benefits.

Margin guidance

Category 1

The management is very bullish on all key segments (core gaming, NODWIN Esports, RMG, and Adtech) with expectations of scalable revenue and improved EBITDA margins over the next 3-4 years.
Core gaming studio business is expected to be a high-margin, high cash flow segment with optimization via AI and studio acquisitions.
NODWIN's revenues are scaling, and focus is on increasing EBITDA margins in the next 3-4 years.
RMG business, led by PokerBaazi, is projected to be a large cash-generating, growing platform with ~30-40% YoY topline growth, margins expected to improve post initial marketing investments.
Adtech segment will benefit from synergies between Datawrkz and Space & Time, driving revenue and EBITDA growth notably in FY26.
Overall, Nazara expects much higher EBITDA margins and strong profitability in H2 FY25 and beyond, aiming for double-digit margins within the current fiscal year.
New IP launches in games like Fusebox and Kiddopia expected to drive future revenue growth from FY26 onwards.

See what Nazara Technolo. management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

In Q2 FY25, Nazara Technologies raised INR 900 crores via a preferential equity issue from marquee investors to support organic and inorganic growth.
The company plans to merge Paper Boat (owner of Kiddopia) with Nazara to enable fungible cash flow for growth deployment.
There is no specific mention of any new or planned fundraising through debt or additional equity beyond the Q2 preferential issue within the current disclosures.
Management emphasized deploying existing raised funds strategically across business segments and M&A opportunities.
No explicit announcements regarding future fundraising through debt or new equity rounds were made as per the information available up to November 18, 2024.

Order book

The transcript provided from Nazara Technologies Limited's Q2 & H1 FY25 earnings call does not mention specific details regarding the current or expected order book or pending orders. The discussion primarily focuses on: - Business segments outlook (Gaming, Esports, Ad-tech) - Strategic initiatives such as IP partnerships and acquisitions (Kiddopia, Paper Boat, PokerBaazi) - Revenue and EBITDA growth expectations over the next few years - Margin improvement strategies - Launch timelines of new gaming IPs (e.g., Big Brother game in Q1 FY26) - Operational efficiencies and centers of excellence initiatives No explicit information about orderbook or pending orders is disclosed in the call transcript.

See what Nazara Technolo. management said on order book — free account, 30 seconds.

Capex plans

Yes

Nazara raised INR 900 crores via preferential equity issue in Q2 FY25 to support organic and inorganic growth initiatives, including strategic investments.
Largest investment made to date in PokerBaazi's parent company, Moonshine Technologies, strengthening their position in skill-based gaming.
Planning to invest in acquiring and closing kids' IPs for Kiddopia to boost organic user acquisition.
Merger of Paper Boat (Kiddopia's parent) with Nazara Technologies approved, aimed at creating fungible cash flows for deployment in growth opportunities.
Setting up centers of excellence in AI, data analytics, user acquisition, M&A, and back-office operations (HR, compliance, finance) for operational efficiencies.
Intent to invest for scaling acquired studios by building AI expertise and optimizing operations.
Potential further investments in Kids’ IP acquisitions as opportunities arise.
Capital will also be used to fund product development and marketing in the Ad-tech business, especially post-acquisition synergy plays like Datawrkz and Space & Time.

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